COVID-19: Tax Policy Options to Address Medical Supply Chain Concerns [November 20, 2020] [open pdf - 683KB]
From the Document: "The outbreak of Coronavirus Disease 2019 (COVID-19) in the United States has drawn attention to the ways in which the U.S. economy depends on global manufacturing and supply chains. Many Members of Congress have expressed a strong interest in responding to U.S. shortages of medical supplies-- particularly personal protective equipment (PPE) and pharmaceuticals--as the United States steps up efforts to contain and counter COVID-19. This Insight summarizes the current state of U.S. reliance on foreign medical supplies and identifies potential tax policy options Congress may consider to encourage domestic production of certain medical goods. Changes to tax policies in combination with other economic policies and market forces could encourage domestic production, particularly for companies that are already looking to reshore manufacturing or diversify existing supply chains."
CRS Insight, IN11536
Congressional Research Service: https://crsreports.congress.gov/